Global Barrier Shrink Films Market

Global Barrier Shrink Films Market Size, Share, Growth Analysis, By Product(Polyolefin-based Barrier Shrink Films, Polyvinyl Chloride (PVC) Shrink Films), By Material(Ethylene Vinyl Alcohol (EVOH) Barrier Shrink Films, Polyethylene Terephthalate Glycol (PETG) Barrier Shrink Films), By End-Use(Food & Beverage, Healthcare) - Industry Forecast 2023-2030


Report ID: SQMIG15A2290 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 95 | Figures: 76

Global Barrier Shrink Films Market Insights

Global Barrier Shrink Films Market size was valued at USD 1.54 billion in 2021 and is poised to grow from USD 1.62 billion in 2022 to USD 2.63 billion by 2030, growing at a CAGR of 5.52% in the forecast period (2023-2030).

In recent years, the global barrier shrink films market has been changing consumer preferences and demands by providing a protective barrier against external elements such as moisture, gases, and UV rays, thereby extending the shelf life of the packaged products. Manufacturers of these specialized packaging materials are focusing on enhancing the barrier properties, clarity, and sustainability of these films, meeting the evolving needs of various end-user industries.

However, the production costs associated with advanced barrier shrink films, especially those incorporating cutting-edge technologies, can be a limiting factor for widespread adoption, particularly among small and medium-sized enterprises. Compliance with food safety regulations and other industry-specific standards requires continuous investment in research and development.

Market snapshot - 2023-2030

Global Market Size

USD 1.54 billion

Fastest Growth

Polyethylene Terephthalate (PET)

Growth Rate

5.52% CAGR

Global barrier shrink films Market ($ Bn)
Country Share for North America Region (%)
Global barrier shrink films Market By Product type (%)

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Global Barrier Shrink Films Market Segmental Analysis

The global barrier shrink films market is segmented into four major segments i.e. by product type, material, end-use and region. Based on type, it is divided into polyolefin-based barrier shrink films, polyvinyl chloride (pvc) shrink films, polyethylene terephthalate (pet) shrink films, and other innovative formats. Based on material, it is bifurcated as ethylene vinyl alcohol (evoh) barrier shrink films, polyethylene terephthalate glycol (petg) barrier shrink films, polyvinylidene chloride (pvdc) barrier shrink films, ethylene-vinyl acetate (eva) barrier shrink films, others. Based on end-use it is segregated into food & beverage, healthcare, consumer goods , industrial and automotive, e-commerce packaging and others. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.

Analysis by Type

Polyolefin-based barrier shrink films has typically held a substantial market share due to their versatility, cost-effectiveness, and recyclability. PE films are commonly used for various applications, including food packaging, while PP films offer high clarity and shrinkage properties. It offers a balance of high barrier properties, clarity, and cost-effectiveness that are likely to dominate, especially in industries such as food packaging where product visibility and protection are crucial.

Due to their excellent clarity, impact resistance, and recyclability polyethylene terephthalate glycol (PETG) barrier shrink films have found applications in the packaging of consumer goods and beverages. Compliance with evolving regulations, especially those related to food safety and environmental impact, can significantly influence the dominance of certain types.

Analysis by Distribution Channel

Ethylene Vinyl Alcohol (EVOH) barrier shrink films, have long dominated the global barrier shrink films market due to their high barrier properties against gases such as oxygen. Barrier shrink films incorporating EVOH are used in applications where preserving the freshness of packaged products is critical.

The Polyethylene Terephthalate Glycol (PETG) barrier shrink films is the market's fastest-growing material segment as they are known for their excellent clarity, impact resistance, and recyclability. They are often used in packaging applications where transparency and product visibility are important.

Global barrier shrink films Market By Material, 2021 (%)

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Global Barrier Shrink Films Market Regional Insights

North America has historically dominated the Barrier Shrink Films market due to the well-established packaging industry, high consumer demand for packaged goods, technological advancements in packaging materials, and focus on sustainable packaging practices. The region is experiencing strong economic growth and is likely to see increased demand for packaged goods, contributing to the dominance of their packaging industries.

Moreover, rapid industrialization and economic growth in countries like China and India, increasing consumer demand for packaged food and beverages, expansion of e-commerce activities, and growth in the manufacturing sector has aided the growth in the Asia-Pacific region. With a booming e-commerce sector may witness increased demand for protective packaging solutions, including barrier shrink films.

Global barrier shrink films Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Barrier Shrink Films Market Dynamics

Drivers

Escalating Demand for Efficient and Reliable Packaging Solutions

  • The reliable packaging solutions in the food and beverage sector have been a significant driver. Barrier shrink films play a crucial role in preserving the freshness and extending the shelf life of perishable goods, meeting the evolving needs of consumers for convenience and quality. Moreover, the expanding e-commerce sector has also been a driving force, as these films serve as protective packaging solutions, safeguarding products during transit and reducing the risk of damage.

Restraints

High Production Expenses and Industry-specific Regulations

  • One of the main market restraints is that the cutting-edge technologies and materials of advanced barrier shrink films can lead to higher production expenses. Adhering to evolving food safety standards and industry-specific regulations necessitates continuous investment in research and development to ensure that barrier shrink films meet the necessary compliance criteria.

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Global Barrier Shrink Films Market Competitive Landscape

The competitive environment of the barrier shrink films market is dynamic and characterized by the presence of several key players striving to maintain and enhance their market positions. Product development, mergers and acquisitions, and collaborations are strategic initiatives that major industry participants are engaged to gain a competitive edge. Technological advancements, material innovations, and a focus on sustainable packaging practices are the factors that shape the competitive environment. Key market players often emphasize expanding their product portfolios to cater to diverse end-use industries, including food and beverage, healthcare, consumer goods, and e-commerce.

Top Player’s Company Profiles

  • Bemis Company
  • Clariant
  • Dow Chemical
  • Eastman Chemical
  • Exxon Mobil
  • Futamura Group
  • Henkel AG & Co. KGaA
  • Honeywell International
  • Jindal Poly Films
  • LyondellBasell Industries
  • Mitsubishi Chemical Corporation
  • Mitsui Chemicals
  • Mondi
  • Sealed Air Corporation
  • Showa Denko K.K
  • SK Chemicals
  • Uflex Limited

Recent Developments

  • In May 2023, Amcor (NYSE: AMCR; ASX: AMC), a prominent global player specializing in the creation and manufacturing of sustainable packaging solutions, officially confirmed the signing of a definitive agreement for the acquisition of Moda Systems.
  • In October 2023, Cosmo Films, a renowned global leader in specialty films catering to packaging, labeling, synthetic paper, and lamination applications, introduced a new business division named Cosmo Plastech.

Global Barrier Shrink Films Key Market Trends

Rising Emphasis on Sustainable and Eco-friendly Packaging Solutions

  • As environmental awareness increases, there is a notable shift towards barrier shrink films that are recyclable, made from bio-based materials, or contribute to reducing the overall environmental footprint. Another noteworthy trend is the continuous focus on technological advancements in film manufacturing. Innovations aimed at improving barrier properties, clarity, and overall performance of shrink films are driving the market forward. Additionally, the surge in e-commerce activities globally is fostering increased demand for robust and protective packaging solutions, with barrier shrink films playing a pivotal role in ensuring the integrity of products during transit.

Global Barrier Shrink Films Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Global barrier shrink films market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is propelled by a surge in demand for protective packaging, particularly in the food and e-commerce sectors. Technological advancements in film manufacturing enhance barrier properties and sustainability. However, high production costs pose a major threat to the market growth. Additionally, polyolefin-based films dominate the product type landscape, while Asia-Pacific leads regional growth due to industrialization and a burgeoning middle class. Key trends include a shift towards sustainable packaging and continual innovation in film technologies, emphasizing the market's dynamic nature.

Report Metric Details
Market size value in 2021 USD 1.54 billion
Market size value in 2030 USD 2.63 billion
Growth Rate 5.52%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Polyolefin-based Barrier Shrink Films, Polyvinyl Chloride (PVC) Shrink Films, Polyethylene Terephthalate (PET) Shrink Films, and Others
  • Material
    • Ethylene Vinyl Alcohol (EVOH) Barrier Shrink Films, Polyethylene Terephthalate Glycol (PETG) Barrier Shrink Films, Polyvinylidene Chloride (PVdC) Barrier Shrink Films, Ethylene-vinyl acetate (EVA) Barrier Shrink Films, Others
  • End-Use
    • Food & Beverage, Healthcare, Consumer Goods, Industrial and Automotive, E-commerce Packaging and Others.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Bemis Company
  • Clariant
  • Dow Chemical
  • Eastman Chemical
  • Exxon Mobil
  • Futamura Group
  • Henkel AG & Co. KGaA
  • Honeywell International
  • Jindal Poly Films
  • LyondellBasell Industries
  • Mitsubishi Chemical Corporation
  • Mitsui Chemicals
  • Mondi
  • Sealed Air Corporation
  • Showa Denko K.K
  • SK Chemicals
  • Uflex Limited
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Barrier Shrink Films Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Barrier Shrink Films Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Barrier Shrink Films Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Barrier Shrink Films Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Barrier Shrink Films Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Barrier Shrink Films Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Barrier Shrink Films Market size was valued at USD 1.54 billion in 2021 and is poised to grow from USD 1.62 billion in 2022 to USD 2.63 billion by 2030, growing at a CAGR of 5.52% in the forecast period (2023-2030).

The competitive environment of the barrier shrink films market is dynamic and characterized by the presence of several key players striving to maintain and enhance their market positions. Product development, mergers and acquisitions, and collaborations are strategic initiatives that major industry participants are engaged to gain a competitive edge. Technological advancements, material innovations, and a focus on sustainable packaging practices are the factors that shape the competitive environment. Key market players often emphasize expanding their product portfolios to cater to diverse end-use industries, including food and beverage, healthcare, consumer goods, and e-commerce. 'Amcor', 'Bemis Company', 'Clariant', 'Cosmo Films', 'Coveris', 'Dow Chemical', 'Eastman Chemical', 'Exxon Mobil', 'Futamura Group', 'Henkel AG & Co. KGaA', 'Honeywell International', 'Jindal Poly Films', 'LyondellBasell Industries', 'Mitsubishi Chemical Corporation', 'Mitsui Chemicals', 'Mondi', 'Sealed Air Corporation', 'Showa Denko K.K', 'SK Chemicals', 'Uflex Limited'

The reliable packaging solutions in the food and beverage sector have been a significant driver. Barrier shrink films play a crucial role in preserving the freshness and extending the shelf life of perishable goods, meeting the evolving needs of consumers for convenience and quality. Moreover, the expanding e-commerce sector has also been a driving force, as these films serve as protective packaging solutions, safeguarding products during transit and reducing the risk of damage.

As environmental awareness increases, there is a notable shift towards barrier shrink films that are recyclable, made from bio-based materials, or contribute to reducing the overall environmental footprint. Another noteworthy trend is the continuous focus on technological advancements in film manufacturing. Innovations aimed at improving barrier properties, clarity, and overall performance of shrink films are driving the market forward. Additionally, the surge in e-commerce activities globally is fostering increased demand for robust and protective packaging solutions, with barrier shrink films playing a pivotal role in ensuring the integrity of products during transit.

North America has historically dominated the Barrier Shrink Films market due to the well-established packaging industry, high consumer demand for packaged goods, technological advancements in packaging materials, and focus on sustainable packaging practices. The region is experiencing strong economic growth and is likely to see increased demand for packaged goods, contributing to the dominance of their packaging industries.

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